SoFi finalized an agreement of up to $2 billion with funds managed by asset manager Blue Owl Capital to provide personal loans on its finance app. This agreement expands SoFi’s capabilities in its loan platform business, where the company refers pre-qualified borrowers to loan origination partners and originates loans on behalf of third parties.
CEO Anthony Noto stated this is an important part of SoFi's strategy to diversify toward less capital-intensive and more fee-based revenue sources. This deal illustrates the value of the company’s leading personal loan business and its diversified funding program.
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